Euro eases following ECB meeting, while dollar rises after inflation data

Published by
Reuters UK

By John McCrank and Julien Ponthus NEW YORK (Reuters) – The euro retreated from its overnight gains on Thursday following the European Central Bank’s announcement it will phase out its stimulus in the third quarter, while the dollar strengthened after a strong U.S. inflation report. The statement from the ECB, which left the door open to an interest rate hike before the end of 2022, initially sent the euro higher, but the rally faded. “From the ECB, we got what we expected, an acknowledgement that the Russia-Ukraine situation is creating a significant degree of uncertainty, but the base case i…

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